Education, Development, and Politics in South Korea

South Korea’s GDP per capita—about $100 in the early 1960s—exceeded $20,000 in 2007, and its economy has become sophisticated, transitioning from labor-intensive to high-tech industries. South Korea is generally acknowledged as a successful example of a developmental state, and it transitioned politically into a formal democracy in 1987. However, its developmental strategy has recently caused social and economic problems. In order to understand the successes and challenges of South Korean development, this chapter focuses on the formation of human capital. As it is crucially important that labor force’s skills and knowledge are commensurate with the nation’s level of economic development, I examine the expansion of educational opportunities in South Korea in terms of both demand-side factors (e.g., industrial policy and business activities) and supply-side factors (e.g., nurturing of human capital through formal education and educational preferences of students and parents), which have been influenced by the political democratization and globalization. The education system has certainly contributed to the country’s development. However, in recent years a large mismatch between the supply and the demand of human capital has caused a grave problem of unemployment among university graduates.

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